Crypto Mining Firm Block Fusion Wins Approval to Operate in New York

The Niagara Falls Planning Board in New York has given the green light to crypto mining facility, Block Fusion, to commence its blockchain and crypto extraction operations. Despite New York’s seemingly inconsistent stance on cryptocurrency, the firm successfully secured a high-energy use operating permit to power its energy-demanding mining rigs, according to the Livebitcoinnews.

The approval of Block Fusion‘s operations comes at an unexpected time. New York’s relationship with crypto has been fraught with tension, evident in its introduction of a two-year moratorium on crypto mining that requires businesses to operate entirely on clean energy. The state cited concerns over the environmental impact.

State Attorney General Leticia James has made headlines for her aggressive legal actions against numerous crypto companies, including Ku Coin and Celsius, alleging fraud and illicit behavior. These actions, coupled with the state’s stringent BitLicense regulations established in 2015, have discouraged several crypto companies from operating within the state.

Yet, in a surprising turn, New York seems to be softening its stance, now considering the incorporation of crypto for payments. With the approval of Block Fusion’s operations, the state’s stance on cryptocurrency continues to keep observers guessing.